Allworth Financial LP Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Posted by Defense World Staff on Jul 1st, 2023

Eli Lilly and Company logo Allworth Financial LP lowered its position in Eli Lilly and Company (NYSE:LLY – Free Report) by 23.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,914 shares of the company’s stock after selling 1,174 shares during the quarter. Allworth Financial LP’s holdings in Eli Lilly and Company were worth $1,344,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Y.D. More Investments Ltd acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at $26,000. Destiny Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 97.8% during the fourth quarter. Destiny Wealth Partners LLC now owns 91 shares of the company’s stock valued at $33,000 after acquiring an additional 45 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at $35,000. Tanglewood Legacy Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at $37,000. Finally, Freedom Wealth Alliance LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 87.25% of the company’s stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 225,000 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $398.48, for a total transaction of $89,658,000.00. Following the sale, the insider now directly owns 101,908,810 shares in the company, valued at approximately $40,608,622,608.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Donald A. Zakrowski sold 600 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $435.29, for a total value of $261,174.00. Following the completion of the transaction, the chief accounting officer now owns 5,978 shares in the company, valued at approximately $2,602,163.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 225,000 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $398.48, for a total value of $89,658,000.00. Following the completion of the transaction, the insider now owns 101,908,810 shares of the company’s stock, valued at approximately $40,608,622,608.80. The disclosure for this sale can be found here. Insiders have sold 1,086,543 shares of company stock worth $445,911,136 in the last three months. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LLY. Truist Financial raised their price target on Eli Lilly and Company from $421.00 to $430.00 in a research note on Friday, April 28th. BMO Capital Markets raised their price target on Eli Lilly and Company from $430.00 to $505.00 in a research note on Thursday, May 4th. Morgan Stanley raised their price target on Eli Lilly and Company from $478.00 to $507.00 in a research note on Monday, May 15th. Jefferies Financial Group raised their price target on Eli Lilly and Company from $290.00 to $310.00 and gave the stock a “hold” rating in a research note on Monday, April 3rd. Finally, Guggenheim decreased their price target on Eli Lilly and Company from $395.00 to $392.00 and set a “buy” rating on the stock in a research note on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $437.90.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $468.98 on Friday. The company has a market cap of $445.19 billion, a P/E ratio of 74.56, a PEG ratio of 2.10 and a beta of 0.36. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.02 and a current ratio of 1.30. Eli Lilly and Company has a one year low of $296.32 and a one year high of $469.87. The business’s 50-day simple moving average is $434.32 and its 200 day simple moving average is $377.09.

Eli Lilly and Company (NYSE:LLY – Free Report) last posted its quarterly earnings data on Thursday, April 27th. The company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.11). Eli Lilly and Company had a return on equity of 61.42% and a net margin of 20.54%. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.87 billion. During the same quarter in the prior year, the firm earned $2.62 earnings per share. Eli Lilly and Company’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, sell-side analysts forecast that Eli Lilly and Company will post 8.78 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $4.52 annualized dividend and a yield of 0.96%. Eli Lilly and Company’s dividend payout ratio is presently 71.86%.

Eli Lilly and Company Company Profile

(Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.